12. Deputy Richard Boyd Barrett asked the Minister for Finance the preparations and scenario planning he is undertaking to deal with the possible implications for the Irish economy of the policies of the new Trump administration in the United States; and if he will make a statement on the matter. [5105/25]

Sentiment score: 0.15

Donald Trump is on a wrecking mission, that is obvious, although I would caution against allowing his Administration to bully us. The reason they have to make America great again is the American economy has declined massively. It used to have 40% GDP, which then went down to 20% by 2014 and it is now down to 15%. The American empire is in decline and Donald Trump personifies that decline. He is trying to reassert global hegemony by bullying people and we should not be bullied. Most of the multinationals here are here because they make a lot of money and they are not going to run away and leave those profits behind. Having said that, the key thing is we have to diversify our economy. We are too vulnerable, not just to Americans but to a small number of flipping oligarchs - I do not care what country they are from - including a tiny number of the Elon Musks of this world and their equivalents in multinationals. That is the problem. We need to diversify our economy and we need to tax these people more. The Minister says expand the tax base by carbon taxes; I say wealth taxes, financial transaction taxes and taxes on wealth and capital so that these people do not control our fate.

Sentiment score: 0.03

There is not.

Sentiment score: 0.00

It is a contradiction of what the Minister says.

Sentiment score: -0.25

I have been making that argument for years.

Sentiment score: -0.36

Yes.

Sentiment score: 0.40

Is it Deputy Nash again or myself?

Sentiment score: 0.00

We have one supplementary question each left.

Sentiment score: 0.00

I have always argued that multinational capital is not quite as mobile as the Minister thinks. They make big investments and do not just run off and leave them overnight. The Government parties have argued that they have to get down on their knees and offer them zero-rate taxes. The rate is 12.5% in theory but in reality it is less than 1% for Apple, as we know. In reality, it is an effective rate of approximately 5% across the board for multinationals but the truth is they are making a lot of profits here, far more than anywhere else. They need access to the European market, by and large, they want to be in an English-speaking country and they need a skilled workforce. That is something the Government should be thinking about because we are falling down in that area. Our third level institutions are falling down the international league tables. We are putting fees in the way of people getting MAs and doctorates and so on. That is the kind of investment we need to make ourselves more resilient against the behaviour of the Elon Musks and the Donald Trumps of this world.

Sentiment score: 0.02

Trump is dangerous but the Government can go on talking to him.

Sentiment score: -0.26